Floater Sum Insured definition

Floater Sum Insured means Sum Insured per family Network Hospital means hospitals or health care providers enlisted by an insurer or by a TPA and insurer together to provide medical services to an insured on payment by a cashless facility Post Hospitalization means medical expenses incurred immediately after the insured person is discharged from the hospital provided that
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Examples of Floater Sum Insured in a sentence

  • If the Insured Persons in the expiring Policy are covered on a Family Floater Policy and such Insured Persons Renew their expiring Policy with Us by splitting the Floater Sum Insured stated in the Schedule of Insurance Certificate in to two or more floater / individual / Family First Policy, then We shall not provide any credit of the accumulated Loyalty Addition to the split Policy.

  • For a Family First Policy, if the Policy is Renewed with Us without a break or if the Policy continues to be in force for the 2nd Policy Year in the 2 year Policy Period (if applicable), each Policy Year We will increase the Sum Insured applicable under the Policy by 10% of the Base Sum Insured of each individual Insured Person only and the increase shall not apply to the Floater Sum Insured stated in the Schedule of Insurance Certificate as applicable under the Policy.

  • If the Base Sum Insured for an Insured Person is exhausted due to payment of claims, then that Insured Person may utilise the Floater Sum Insured stated in the Schedule of Insurance Certificate for any claims arising in that Policy Year.

  • In case of Family First Policy, Sum Insured means the total of the Base Sum Insured for each Insured Person, the Loyalty Additions as per Section 4.1 for each Insured Person and the Floater Sum Insured specified in the Schedule of Insurance Certificate which is Our maximum, total and cumulative liability for any and all claims during the Policy Year in respect of each Insured Person.

  • The total of the Base Sum Insured for all Insured Persons, the Loyalty Additions as per Section 4.1 for all Insured Persons and the Floater Sum Insured specified in the Schedule of Insurance Certificate is Our maximum, total and cumulative liability for all claims during a Policy Year in respect of all Insured Persons.

  • In the event of a claim being admitted from the Floater Sum Insured, the Floater Sum Insured shall stand correspondingly reduced by the amount of claim paid (including ‘taxes’) or admitted and only the remaining amount of the Floater Sum Insured shall be available for claims arising in that Policy Year in respect of the Insured Persons who have exhausted their Base Sum Insured during that Policy Year.

  • We will cover the members of the Policyholder as per Relationships defined for the Group members on a Family Floater Sum Insured basis.

  • In consideration of the premium paid, subject to the terms, conditions, exclusions and definitions contained herein or endorsed or otherwise expressed hereon, the Company agrees as under: If during the policy period as stated in the Schedule, the Insured person shall require admission as an In-patient for treatment in a hospital, then the Insurer shall provide cashless facility at networked hospitals up to the Floater Sum Insured in aggregate during the policy period stated in the Schedule hereto.

  • If the Insured Persons in the expiring Policy are covered on a Family Floater Policy and such Insured Persons Renew their expiring Policy with Us by splitting the Floater Sum Insured stated in the Schedule of Insurance Certificate in to two or more floater / individual / Family First Policy, then We shall not provide any credit of the accumulated No Claim Bonus to the split Policy.

  • In the event of a claim being admitted from the Floater Sum Insured, the Floater Sum Insured shall stand correspondingly reduced by the amount of claim paid (including „taxes‟) or admitted and only the remaining amount of the Floater Sum Insured shall be available for claims arising in that Policy Year in respect of the Insured Persons who have exhausted their Base Sum Insured during that Policy Year.